Foreign placements in ASE up in October

Net foreign capital inflows into the Athens Stock Exchange (ASE) of 364.75 million euros in October brought the cumulative total this year to 4.33 billion euros, according to data for October released by the bourse’s Central Stock Depositary. Foreign investors last month continued building up their positions, with priority on stocks included in the blue-chip FTSE/ASE-20 and the FTSE/ASE Mid-40 indices. According to the latest data, foreign investors accounted for 38.94 of ASE’s total capitalization in October, against 38.89 percent in September. Their FTSE/ASE-20 holdings represented 48.09 percent of the total at the end of last month, and 20.66 percent of the total capitalization of the FTSE/ASE Mid-40, from 19.97 percent in September. This contrasted with developments in the FTSE/ASE Small-Cap-80, where the foreign institutionals’ share in the total capitalization dropped markedly, to 21.83 percent from 24.36 percent in September. ASE’s average turnover per session since the beginning of 2005 was 207.23 million euros at the end of October. Separately, ASE announced that ATE Bank will replace construction company Hellenic Technodomiki on the FTSE/ASE-20 index, as a result of a rejig of the main indices. There will be five replacements on the FTSE/ASE Mid-40, which will also contain large-capitalization stocks. Hellenic Technodomiki, G. Sarantis, Lamda Development, Athens Medical and Frigoglass will replace Elais, Goody’s, Halcor, Iaso and ATE Bank. There will also be 20 replacements on the FTSE/ASE Small-Cap-80, which will include middle and small capitalizations. The changes will go into effect on November 28. The FTSE/ASE International Index, which will include all large capitalizations with valuations exceeding 100 million euros, is to be launched on Monday, January 2, 2006, at 5,000 points. The bourse’s mid-cap market will include 217 listings with a market value of below 100 million euros.

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